A1GP Series for sale

A unique opportunity to purchase A1 GP - the 'World Cup of
Motorsport'
Leading global asset sales and valuations company, GoIndustry DoveBid, is
offering a unique opportunity to acquire the assets of A1 GP, better
known as the 'World Cup of ...

A unique opportunity to purchase A1 GP - the 'World Cup of
Motorsport'

Leading global asset sales and valuations company, GoIndustry DoveBid, is
offering a unique opportunity to acquire the assets of A1 GP, better
known as the 'World Cup of Motorsport'.

GoIndustry DoveBid has been appointed to market the assets of A1 Holdings
Ltd [UK parent company in liquidation] and A1 Grand Prix Operations Ltd
[UK operating company in administration] on behalf of creditors in a
Private Treaty Sale - in an effort to keep the popular race series alive.

A1 GP, founded in 2004, is a single manufacturer, open wheel formula
racing series ratified by the Federation Internationale de l'Automobile
(FIA), in which identical cars compete against each other. The series is
nation-based and included high profile drivers such as Nelson Piquet Jr.,
Vitantonio Liuzzi and Sebastien Buemi, who had previously raced in
Formula One.

Explains David Hampson of GoIndustry DoveBid Valuation Services:
"GoIndustry DoveBid is pleased to announce that its UK Insolvency
team has been instructed by Griffins, the administrator and Bridge
Business Recovery, the liquidators, to market the assets of A1 GP. The
sale includes more than 20 of the latest Ferrari engined single seat race
cars (2008), 14 of the earlier Lola race car rolling chassis (2005) and
all of the support equipment, including the Maserati Quattroporte Sport
GT and Ferrari 599GTB track safety cars. Offers are currently being
invited for the whole asset package, including the intellectual property
rights to the A1 GP series logos and brands."

Adds Tim Bramston, a partner with Griffins, the administrator of A1 Grand
Prix Operations Ltd: "We are delighted to be co-operating on this
sale for the benefit of all of the creditors. We took the step of
administration in order to re-unite the Ferrari powered cars with the
intellectual property rights to use the brand. The vehicles have now been
laid out for inspection in a single location and discussions are already
underway with a number of interested parties. We are currently aiming to
have a purchaser of A1 GP assets in place by the end of March."

Says Tony Murphy, a partner at Bridge Business Recovery, the liquidators
of A1 GP's parent company, A1 Holdings Ltd: "The intention is to market
the series as a complete package. We are highly confident that a buyer
can be found for the combined pool of assets and with it the prospect of
the A1 GP series returning to our TV screens at some point in the near
future. Not only that but the purchaser will command the commercial
benefits and prestige associated with running the 'World Cup of
Motorsport' series."